the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”;

WHEREAS, Ryan Mortgage is a Connecticut limited liability company that is currently licensed as a mortgage broker under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to the authority granted by Sections 36a-17(a) and 36a-498f of the Connecticut General Statutes, into the activities of Ryan Mortgage to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on May 29, 2015, as a result of the investigation, the Commissioner, acting pursuant to Sections 36a-494(b), 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing against Ryan Mortgage (“Notice”);

WHEREAS, the Commissioner alleged in the Notice that Ryan Mortgage failed to file a mortgage call report (“MCR”) that was due on March 31, 2015 (“Standard – Financial Condition – 2014”), which conduct constituted: (1) a violation of Section 36a-534b(c)(3) of Connecticut General Statutes; (2) a violation of an order of the Commissioner contained in a Consent Order dated May 16, 2013 (“Consent Order”); and (3) a basis to revive allegations previously made by the Commissioner in a 2013 Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing that alleged that Ryan Mortgage had failed to file a prior (2011) Standard – Financial Condition MCR report on its due date, which such allegation was admitted by Ryan Mortgage in connection with the Consent Order. All of the foregoing violations form the basis to issue an order to cease and desist pursuant to Sections 36a-494(b) and/or 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Sections 36a-494(b) and/or 36a-50(a) of the Connecticut General Statutes;

WHEREAS, on June 1, 2015, the Notice was sent by certified mail, return receipt requested, to Ryan Mortgage (Certified Mail No. 70143490000235345091);

WHEREAS, on June 9, 2015, Ryan Mortgage received the Notice, and on June 15, 2015, requested a hearing;

WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;

WHEREAS, the Commissioner and Ryan Mortgage now desire to resolve the matters alleged in the Notice and set forth herein;

WHEREAS, Ryan Mortgage admits that the Standard – Financial Condition – 2014 MCR described in the Notice and set forth herein was not filed on its due date, and acknowledges that this Consent Order is a public record and is a reportable event for purposes of the regulatory disclosure questions on the Nationwide Mortgage Licensing System and Registry (“NMLS”), as applicable;

WHEREAS, Ryan Mortgage voluntarily agrees to consent to the entry of the sanction imposed below, solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegations contained in the Notice and set forth herein;

WHEREAS, Ryan Mortgage herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls for timely and accurately filing required reports with the Commissioner through NMLS as required, or as otherwise permitted under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes;

WHEREAS, Ryan Mortgage agrees that the Notice may be used in construing the terms of this Consent Order and agrees to the language of this Consent Order;

AND WHEREAS, Ryan Mortgage, through its execution of this Consent Order, voluntarily agrees to waive any applicable procedural rights, including a right to a hearing as it pertains to the allegations contained in the Notice and set forth herein, and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.

CONSENT TO ENTRY OF SANCTION

WHEREAS, Ryan Mortgage, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:

No later than the date this Consent Order is executed by Ryan Mortgage, Ryan Mortgage shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Four Thousand Five Hundred Dollars ($4,500) as a civil penalty.

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1.

The Sanction set forth above be and is hereby entered;

2.

No later than the date this Consent Order is executed by Ryan Mortgage, Ryan Mortgage shall have satisfactorily filed on NMLS all MCRs required to date. In the future, Ryan Mortgage shall timely and accurately file all required reports on NMLS or as otherwise permitted under Part I of Chapter 668 of the Connecticut General Statutes, as may be required in connection with its current and any future license issued to Ryan Mortgage;

3.

Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Ryan Mortgage based upon the allegations set forth in the Notice or contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Ryan Mortgage based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Ryan Mortgage and reflected herein is subsequently discovered to be untrue. It is expressly understood and agreed that the subsequent failure by Ryan Mortgage to timely file any required MCR within the balance of the 2015 licensing period, or any required MCR in any of the next three (3) licensing periods during which time Ryan Mortgage is licensed, shall, in addition to any other remedy available to the Commissioner, form a basis for the Commissioner to revoke or refuse to renew the license of Ryan Mortgage in Connecticut;

4.

Subject to the foregoing, and so long as this Consent Order is promptly disclosed by Ryan Mortgage and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of Ryan Mortgage to apply for or obtain licenses or renewal licenses under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes, provided all applicable legal requirements for such license are satisfied; and

I, Koreen L. Ryan, state on behalf of Ryan Mortgage, LLC, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Ryan Mortgage, LLC, that Ryan Mortgage, LLC agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Ryan Mortgage, LLC voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.

On this the 12th day of August 2015, before me, Marilyn Kilis, the undersigned officer, personally appeared Koreen Ryan who acknowledged himself/herself to be the Owner of Ryan Mortgage, LLC, a member managed/manager managed limited liability company, and that he/she as such Owner, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself/herself as Koreen Ryan.